Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Carrying Amounts and Estimated Fair Values by Input Level

The carrying amounts and estimated fair values by input level of the Company’s financial instruments were as follows:

	June 30, 2024
(in millions)	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	877.6	$	877.6	$	877.6	$	—	$	—
Equity securities	$	5.3	$	5.3	$	5.3	$	—	$	—
Available-for-sale debt securities	$	24.2	$	24.2	$	—	$	—	$	24.2
Held-to-maturity securities	$	6.7	$	6.7	$	—	$	6.7	$	—
Promissory notes	$	7.9	$	7.9	$	—	$	7.9	$	—
Financial liabilities:
Long-term debt
Amended Credit Facilities	$	1,453.2	$	1,468.8	$	—	$	1,468.8	$	—
5.625% Notes	$	399.8	$	387.0	$	—	$	387.0	$	—
4.125% Notes	$	395.0	$	344.0	$	—	$	344.0	$	—
Convertible Notes	$	327.0	$	362.7	$	—	$	362.7	$	—
Other long-term obligations	$	185.4	$	184.2	$	—	$	8.1	$	176.1
Other liabilities	$	48.4	$	48.3	$	—	$	2.7	$	45.6

	December 31, 2023
(in millions)	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	1,071.8	$	1,071.8	$	1,071.8	$	—	$	—
Equity securities	$	10.7	$	10.7	$	10.7	$	—	$	—
Available-for-sale securities	$	24.2	$	24.2	$	—	$	—	$	24.2
Held-to-maturity securities	$	6.7	$	6.7	$	—	$	6.7	$	—
Promissory notes	$	7.9	$	7.9	$	—	$	7.9	$	—
Financial liabilities:
Long-term debt
Amended Credit Facilities	$	1,471.7	$	1,483.5	$	1,483.5	$	—	$	—
5.625% Notes	$	399.7	$	388.0	$	388.0	$	—	$	—
4.125% Notes	$	394.6	$	340.0	$	340.0	$	—	$	—
Convertible Notes	$	326.1	$	427.6	$	427.6	$	—	$	—
Other long-term obligations	$	173.5	$	172.1	$	—	$	18.0	$	154.1
Other liabilities	$	79.0	$	78.9	$	—	$	2.7	$	76.2

Schedule of the Changes in Fair Value of Level 3 Assets and Liabilities

The following table summarizes the changes in fair value of our Level 3 assets and liabilities measured on a recurring basis:

(in millions)	Other Assets and Liabilities
Balance as of January 1, 2024	$	254.5
Interest	22.0
Payment installments	(30.6)
Balance as of June 30, 2024	$	245.9

Schedule of Significant Unobservable Inputs Used in Calculating Level 3 Assets and Liabilities

The following table summarizes the significant unobservable inputs used in calculating fair value for our Level 3 assets and liabilities as of June 30, 2024:

	Valuation Technique	Unobservable Input	Discount Rate
Available-for-sale debt securities	Discounted cash flow	Discount rate	35.0	%
Other long-term obligation	Discounted cash flow	Discount rate	27.0	%
Contingent purchase price - Plainridge Park Casino	Discounted cash flow	Discount rate	7.0	%